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Canacol Energy Ltd.

09:50 AM EST - Canacol Energy Ltd. : announced the planned spud of the Apoteri K-2 exploration well on the Takutu Block in Guyana during the last week of December 2010. The K-2 well will be drilled to a measured depth of approximately 11,000 feet and will target the same productive reservoirs that tested over 400 barrels of oil per day of 42 degrees API light oil from the Karanambo 1 well drilled in 1982 and located 600 metres away. Canacol Energy Ltd. shares V.CNE are trading down $0.06 at $1.49.